1031 Exchange Tempe, Arizona

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Tempe due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Tempe, Arizona is a part of the North Tempe Submarket submarket area, and contains 7 zip codes, including: 85287, 85285, 85280, 85281, 85283, and 85284.

Tempe Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Tempe, AZ submarket area was $1,270, which is 39.56% lower than 2014 average rent. This represents a compounded annual growth rate of 6.89%. 2019 vacancy in Tempe, AZ was 6.90%.

The total population of the city of Tempe, AZ has grown 18.95% since 2010. As of 2018, the population was 192,364. The median household income of the Tempe was $54,210, which is -10.09% lower than the national average.

  • submarket area North Tempe Submarket
  • avg rent $1,270
  • rent growth 39.56%
  • vacancy 6.90%
  • median income $54,210
  • population (2018) 192,364
  • population growth 18.95%
  • vs. nat'l avg -10.09%
  • zip codes 85280 85281 85282 85283 85284 85285 85287

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